GROUP Technologies AG

euro adhoc: GROUP Technologies AG
Quarterly or Semiannual Financial Statements
Preliminary figures of third quarter 2002 of GROUP Technologies AG (E)

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· Sales and earnings development below expected plannings   · Full year planning is going to be reduced · Improvement in 2003 expected due to cost cutting program

GROUP Technologies AG, Karlsruhe, recorded according to first and preliminary figures for the third quarter 2002 again a clear reduction in sales and earnings development. Sales for the period July to September 2002 resulted in round about EUR 1.7 mill and therefore the cumulated figure for the first nine months totalled to round about EUR 5.9 mill. The declining sales development (- 8%) compared to the previous year (EUR 6.5 mill) is clearly below the expected growth perspectives of the board.

Main reasons were the unexpected strong decrease in capital expenditures in general as a result of the weak development of the economy and the con-tinued unsecurity of our customers about the bankruptcy of Ceyoniq AG and their consequences for GROUP Technologies AG. First positive effects from the restructuring measures within the sales department and from the cost cutting program, initiated in Q3, couldn`t compensate for this untill now. Especially for the personnel costs is a marked improvement to be expected not before 2003.

EBIT for the third quarter 2002 resulted at around EUR  - 1.4 mill (previous year EUR 271,000) and for the first nine months 2002 cumulated at around EUR  - 2.7 mill (previous year EUR 426,000).

The executive board of GROUP Technologies AG is going to present a revised full year planning in the near future which is going to result in a clear cut in sales and EBIT.  

Definite and detailed figures for the third quarter 2002 of GROUP Technologies AG are going to be disclosed on November 28th, 2002.

For additional information please contact: GROUP Technologies AG Investor Relations Birgitta Weisshaar-Schmid Ottostrasse 4 D - 76227 Karlsruhe

Phone: +49 - (0) 721 - 490 11 - 84 Fax: +49 - (0) 721 - 490 11 - 914

mailto: bws@group-technologies.com Internet: www.group-technologies.com ; ;

end of announcement            euro adhoc 21.11.2002
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Further inquiry note: Birgitta Weißhaar IR Tel.: +49(0)721 4901 184 E-mail: bws@group-technologies.com

Branche: Software
ISIN:      DE0005556112
WKN:        555611
Index:    Nemax All Share
Börsen:  Baden-Württembergische Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Berliner Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Hamburger Wertpapierbörse / free trade
              Niedersächsische Börse zu Hannover / free trade
              Frankfurter Wertpapierbörse / Neuer Markt



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